Open Weekend Post 02/09-10/13

You know the drill, share the love and the knowledge.

I kinda said it all in Fridays post, and in Wednesday's post I covered the worst of the charts. 

SPX Weekly Cash (for a change) -Hanging man at resistance with overbought conditions. Dig the push of the upper weekly BB. That ain't right.

Enjoy the weekend.

GL and GB!

Morning Charts and Mini Rant 02/08/13 SPX /ES

Almost every day here at STB some sort of fraud, corruption or market manipulation topic is covered (well, OK, I cover it every day, but that is besides the point). I do this for a good reason, to expose you to the new reality. I do it so you know that the system has been hijacked by the corporate elite and everything now works to serve them, for if they don't survive - no one will.

Did you catch that? We the sheeple are no more than sheeple, and without our corporate overlords the world will cease to exist. If the world ceases to exist then government ceases and we can't have that either, so the government caves to the special interest lobbies at the expense of the sheeple. POOF, we the sheeple have lost all power and become little more than debt serfs to serve the system.

This goes back to before the blackmail bailouts of Paulson and Co of the TARP days. The lawless rule of Wall Street really began with Clinton, Greenspan, Summers, Rubin and a young Geitner in the 90's (some will claim it started with Reagan, and I can go for that). Greed came to rule with the gogo 90's when people were making so much money that no one would dare step in the way no matter if what they were doing was legal or not (see The Warning). (Note who BO picked as his financial chiefs out of the gate in '08 - Geitner and Summers) (Also note who got one of the biggest bailouts on '09 - Rubin at Citi).

This lawlessness led to the bust of the market in '00, again to the mortgage crisis of '07 and will occur again with the debt bubble now. What is so astonishing is the power of greed which has led to the complete lack of morality in DC. If money is being made, get the hell out of the way. The banksters because of the threat of collapse in the quadrillion of unregulated CDS instruments now control everything. If their lawless, unregulated mess goes kaput, so does the global economic and financial system. We're being blackmailed by the banks. This is the new reality.

Morning Charts 02/07/13 SPX /ES USD/JPY

For those expecting snow in the NE, if it is anything like the rain we're getting here in Georgia, y'all got something really big on the way.

Not much to say about the markets or economy or the fascist state this morning, so I will give you a break from the rants. The lies and corruption are so blatant now it is unthinkable.

Daily SPX - It is what it is, negative divergences and all. You are witnessing raw and blatant corruption, greed and manipulation of the greatest market on earth for the benefit of the few all the while destroying the greatest nation on earth.

Morning Charts 02/06/13 SPX /ES

National Signing Day for all you CFB junkies out there. At least we have something that will keep us entertained today instead of having to watch another Fed induced BTFD bear trap. How UGA lost the #1 player in the nation from Georgia is beyond me. May your team do well today.

Even CNBS is getting in on the beware a top stuff with Traders Search for Trigger (Sound familiar? More like a catalyst?) to Insider Selling Surges. I guess with DOW 14,000 even some of the market pumping bimbos over there have to do a little CYA just in case. That must be a p-poor existence to have to write BS government propaganda all day. Talk about needing gun control, I'd blow my brains out if I was subjected to that horror for a job.

What better to mark an impending top than The Worst of Subprime Returns? Hey, don't be pissed at the TBTF's, we're the stupid F's that let them do it. Care to look at our most recent voting record as a nation? Care to look at the two "choices" we had for president? Nuff said I think.

Morning Charts 02/05/13 SPX /ES

Back on the subject of hidden inflation - Please see Fraudulently Diluting High-Quality Food by ZH.

On the subject of 401k confiscation - They are discussing the option of them (the government) assisting you in managing your retirement account. I guess you don't have a 50% allocation to Treasuries.

On the subject of everything else. I don't know how to cover so much in so little space. The stories have really become redundant. How many Greek bailouts or Japanese QE's have there been? The story is the same every time, big problems always end with bigger bailouts. We're conditioned at this point and that's why the debt ceiling is a non issue. We all know what's going to happen. the GOP will cave and the entitlement crowd will get their way yet again. Cut spending? HA!

Ah, then there is Europe. I still await a catalyst to start the fall of all falls. The most corrupt of the corrupt financial systems, where monetary policy resembles a 6 year old playing monopoly, is beginning to strain again. Was Italy's recent CDS issue the first of many more to come? I think so. It is only a matter of time before the rehypothecated under non-collateralized system erupts. I believe the catalyst that leads to my "event" will be financially related (CDS) and will tip off in the EU in the not too distant future.

On to the markets -

Morning Charts 02/04/13 SPX /ES

Well, I had a first ever Blogger destroy a post this morning. Thank you Google. So you simply get a bunch of charts today.

Daily SPX - The dollar at extreme lows and market at extreme highs. Something has to give. I said in the weekend post, that if I had a set and was not scared to death of the Fed I'd have called a top Friday. Let's see just how greedy and desperate they are from here. Back in early August I warned of unprecedented manipulation, and we've seen it clearly. Bottom line is they have taken the farce/lie so far they can't stop now or else.

Open Weekend Post 02/02-03/2013 SPX /ES

You know the drill, share the love and the knowledge.

14,006, 1512, 911 - what more could they ask for with the failing economy underneath? The VIX is beginning to move with price which is never good for bully. As mentioned in the comments Friday, if I had a set the backtest of the green rising overthrow channel would be a classic spot to call a major top. There was a busted rising wedge that led to a channel overthrow to prior resistance overthrow to channel overthrow to upper channel resistance all at the top end of a massive rising wedge formation that should end the recovery move. And all that on bullshit economic fraud piled on in the 4th quarter and to get O reelected. That's the way I see it. It all came together on the eve of Superbowl weekend. Coincidence? Time for a catalyst or an "event". Charts have called stuff like this before. Like I said, if I had a set and if I did not fear the Fed so much I would call it here.

And of course - Best UFO sightings of January -



Have a good weekend!

GL and GB!

Morning Charts 02/01/13 SPX /ES

I wonder sometimes what I am missing or not seeing in the charts that I should. The missing nugget of truth that only the charts will deliver like nothing else. I used to be pretty good at this stuff, finding the clues, recognizing patterns and allowing price to ripen to a point just before it fell off the tree.

Wonder I shouldn't, because the markets are not real anymore. I'm not doing anything different or wrong. It is the markets that have changed or evolved into something that is no longer recognizable. QE driven fantasies where bids are endless and computers trade with each other in some sort of cyber game that virtually guarantees price will not fail.

So a negative GDP print indicating recession occurs but markets still insist on remaining at or near post recovery highs? Really? Overbought conditions persist on the tail of the worst consumer confidence print in years? Italian banks, China bonds, Spain, Greece, France is "broke", currency wars, Fed balance sheet, I could go on and on with the negative news reports the past few weeks, months or years. If it makes no sense, it shouldn't, because nothing is real anymore.

I believe the charts will get it right eventually. This time the end will come abruptly without warning. The monthly, weekly and daily charts are building their case for the cascade to come. The case where bad news is the best news cause it guarantees further easing will end one day. Reality will strike with the precision of a laser guided missile.